Tuesday, 3 November 2009

Bank of England Poised to Sustain Crisis Aid

"The U.K.'s top central banker, Mervyn King, faces a tough call at a pivotal meeting this week: Whether to continue showering money on Britain's troubled economy while other countries consider dialing back emergency relief measures.Many signs suggest Mr. King and officials on the Bank of England's interest-rate policy committee will expand their sweeping bailout of the economy. Growth prospects are dimmer for Britain than nations such as France, Germany and the U.S. The British economy, heavily dependent on the financial-services industry and fueled by high levels of consumer debt, is seen by some as acutely vulnerable to the aftershocks of the global crisis."

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